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Weekly Capsule Week 1 of January Contents Economy & Banking ........................................................................... 3 Government& Polity ........................................................................... 7 International ..................................................................................... 10 Appointment ....................................................................................... 12 Science ............................................................................................... 13 Person/Event/Award… ...................................................................... 14 Sports ................................................................................................. 16 "All our dreams can come true if we have the courage to pursue them." - Walt Disney 2 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected] Weekly Capsule Week 1 of January Economy & Banking 1. Govt. notifies new GST return forms The government has notified new annual GST return forms, which are required to be filed by businesses registered under the Goods and Services Tax (GST) regime by June 30, 2019. The Central Board of Indirect Taxes and Customs (CBIC) on December 31, 2018, notified form GSTR9, GSTR9A and GSTR9C. 2. 4 PSB stocks surge after govt. infuses 10,882 cr. Bank stocks were in demand on Tuesday after the government infused 10,882 crore in four public sector lenders. Shares of UCO Bank soared 12.1% to close at 22.70 apiece on the BSE. Bank of Maharashtra gained 3.83%, as did Central Bank of India (1.36%) and Syndicate Bank (1.27 %). 3. Reserve Bank relaxes debt recast norms for MSMEs The Reserve Bank of India (RBI) has relaxed the provisioning norms for lenders for restructuring loans of up to 25 crore. Loans of up to 25 crore eligible for relaxation of provision. The restructuring has to be implemented by March 31, 2020, the RBI said. The Reserve Bank of India was established on April 1, 1935 in accordance with the provision of the Reserve Bank of India Act, 1934. Shaktikanta Das is the 25th governor of RBI. Headquarters of RBI is in Mumbai. 4. U.K. Sinha to head RBI panel on MSME revival The RBI has appointed an eight member expert committee headed by former SEBI chairman U.K. Sinha to systematically review and propose long term solutions for revival of the micro, small and medium enterprises (MSME) sector. The committee will submit its report by the end of June 2019. 5. Government approves Rs 600 crore subsidy sops to merchant exporters The government decided to provide 3 per cent interest subsidy to merchant exporters, entailing an expenditure of Rs 600 crore, to enhance liquidity with a view to boosting outbound shipments. 6. HDFC MF regains top spot in mutual fund industry HDFC mutual fund has regained its number 1 spot in the Indian mutual fund industry by racing ahead of ICICI Prudential Mutual Fund. SBI Mutual Fund is the number three player with assets of Rs 2.64 lakh crore followed by Aditya Birla SL at Rs 2.42 lakh crore and Reliance Mutual Fund at Rs 2.36 lakh crore. The total assets of the MF industry stood at Rs 23.61 lakh crore. 3 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected] Weekly Capsule Week 1 of January HDFC Mutual Fund CEO= Milind Barve, SBI Mutual Fund CEO= Ashwani Bhatia 7. BSES Delhi discoms ink pact with SECI for 200MW wind power BSES Rajdhani Power Limited (BRPL) and BSES Yamuna Power Limited (BYPL) on Thursday said they have signed agreements with Solar Energy Corporation of India to procure 200 MW of wind power. 8. IOT Infra plans to manufacture bio-CNG in Tamil Nadu IOT Infrastructure and Energy Services, a joint venture of state run-Indian Oil Corporation and Oil tanking GmbH of Germany, is tweaking its biogas plant to manufacture bio-CNG for vehicles and has plans to set up more Greenfield projects for the clean auto fuel. 9. Banks recover Rs 40,400 crore from defaulters: RBI report Banks have seen a significant improvement in recovery of stressed assets helped by the Insolvency and Bankruptcy Code (IBC) and amendments in the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests (SARFAESI) Act, during FY18, according to the RBI data. In the fiscal ended March 2018, banks recovered Rs 40,400 crore worth of bad loans as against Rs 38,500 crore recovered in FY17. The SARFAESI act 2002 is an Indian law that allows banks and other financial institutions to auction residential or commercial properties (of defaulters) to recover loans. 10. NHAI to raise Rs 10,000 cr. via Bharatmala bonds The National Highways Authority of India (NHAI) plans to raise Rs 10,000 crore through Bharatmala Taxable Bonds in the current fiscal. Highways Minister Nitin Gadkari said as per the internal and extra budgetary resources approved for 201819 by the government, Rs 62,000 crore is to be raised by NHAI through various sources including Bharatmala bonds. 11. NGT imposes 100 cr fine on Meghalaya As per a report submitted by a committee appointed to take stock of mining in Meghalaya, the National Green Tribunal imposed a cost of Rs 100 crore on the State government for violation of Mining ban. 4 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected] Weekly Capsule Week 1 of January Meghalaya CM= Shri Conrad Kongkal Sangma, Governor= Shri Tathagata Roy. Capital of Meghalaya= Shillong 12. LIC displays profit of Rs. 26, 147.52 crore in FY 2017-18 Shri Shiv Pratap Shukla, Minister of State for Finance stated that as per Life Insurance Corporation of India (LIC), it has realised a profit of Rs.20, 269.47 crore and Rs.26, 147.52 crore in the financial years 2016-17 and 2017-18 respectively. This is an increase of 29 per cent over the previous financial year (2016-17). 13. Andhra Bank to deploy over 1,600 business correspondents to boost financial inclusion programme Andhra Bank will position over 1,600 business correspondents to deliver a mass of services like account opening, door-step banking, ATM deployment and NPA recovery under its financial inclusion project. 14. ICICI Bank, Small Business Fin Credit to provide loans to MSME’s ICICI Bank and Small Business Fin Credit will jointly provide loans worth up to Rs 1 crore to the small and medium enterprises. The partnership has been forged under the aegis of RBI's circular dated September 21, 2018, that permits banks to engage with a non-banking financial company (NBFC) to co-originate loans for the creation of priority sector assets, the bank said. ICICI Bank headquarters is in Mumbai. MD and CEO of ICICI Bank is Sandeep Bakhshi. Tagline is “Hum Hai Na!” 15. HDFC arm Gruh Finance to merge with Bandhan Bank Gruh Finance, the affordable housing finance arm of mortgage lender HDFC, will be merged with Bandhan Bank, the newest commercial bank. The MD and CEO of Bandhan bank= Chandra Shekhar Ghosh Headquarters of Bandhan Bank=Kolkata 5 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected] Weekly Capsule Week 1 of January 16. CSO pegs India’s GDP to grow at 7.2% in FY19 According to CSO India’s GDP is expected to grow at 7.2 per cent in FY19. “The growth in GDP during 2018-19 is estimated at 7.2 per cent as compared to the growth rate of 6.7 per cent in 2017-18”, the Central Statistics Office (CSO) said releasing the first advance estimates of National Income for FY19. 17. Aster DM inks pact with Bajaj Finserv Aster DM Healthcare Ltd has announced its partnership with Bajaj Finserv for Aster Easy Care which is an initiative to allow patients to access emergency and elective medical care. Aster Easy Care is applicable for medical bills ranging from Rs 4,999-4, 50,000. 6 All ixamBee Mock Tests are FREE Please visit www.ixamBee.com Contact us at 92055 24028 (SMS/WhatsApp/call) or [email protected] Weekly Capsule Week 1 of January Government & Polity 1. 49 Crore grant for Pondicherry varsity The Department of Biochemistry & Molecular Biology of the School of Life Sciences, Pondicherry University has been sanctioned 1.49 crore as grant by the Department of Science and Technology. The DSTFIST support is given to internationally competitive institutions into teaching and research. 2. Global advertising meet in Kochi on February 20-22 The International Advertising Association (IAA) will host the IAA World Congress at Kochi from February 2022. The event, covering marketing, advertising and media, would be held at the Grand Hyatt Lulu International Convention Centre in that city. Chairman of the International Advertising Association= Srinivasan Swamy 3. Centre approves ‘Prayagraj’ The Union Home Ministry has approved an Uttar Pradesh government proposal to rename Allahabad as Prayagraj. The Centre has agreed to the renaming of at least 25 towns and villages nationwide in the past one year. The plan to rename Faizabad district as Ayodhya is yet to come in from the State government. 4. India to host two-day meeting of Arab League India will host foreign ministers of 22 Arab League nations in Delhi at a two-day meet from January 31 in the first such engagement in recent years with the grouping of West Asian and North African countries, and the State of Palestine. 5. Government releases 6-croreth LPG connections under PMUY The government gave out the 6-croreth free cooking gas (LPG) connection as the scheme to make available cleaner fuel in every household kitchens runs ahead of schedule. Pradhan Mantri Ujjwala Yojana (PMUY) aims to safeguard the health of women and children by providing them with a clean fuel. Pradhan Mantri Ujjwala Yojana was launched by Hon’ble Prime Minister Shri Narendra Modi on May 1st, 2016 in Ballia, Uttar Pradesh.